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rights are taken away. ♪ ♪ >>> i'm bret baier in washington. the big story is order from the obama administration to pentagon to get ready for sequestration. tonight on "special report," for the first time, the defense department and other agencies are told to start planning for massive spending cuts that will automatically kick in, if a budget deal is not reached. we take look at what the specific cuts would do to the nation's defense capabilities. you heard a lot lately about possibly curtailing tax deductions as a way to raise revenue the president said republicans want to eliminate charitable deductions. we'll see if it's true to get the latest on the cliff negotiations. president and speaker boehner talked today by phone. syrian president bashar assad sent an envoy to several latin american nation to scout location for asylum. special senators from at 6:00 eastern. back to my colleagues with "the five." ♪ ♪ >> kimberly: treb story of the homeless man given boots from cop on cold night in new york city last month? it turns out he is not
rights are taken away. ♪ ♪ >>> i'm bret baier in washington. the big story is order from the obama administration to pentagon to get ready for sequestration. tonight on "special report," for the first time, the defense department and other agencies are told to start planning for massive spending cuts that will automatically kick in, if a budget deal is not reached. we take look at what the specific cuts would do to the nation's defense capabilities. you heard a lot lately...
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here i-94 to break them down for us is diane macedo from the fox business network. >> that's right. the irs is releasing the rules on how to implement the new taxes that will take effect in 2013 to help pay for the affordable care act. one of the main runs is 3.8 percent sir tax on the investment income. the first tax ever to be applied to capital gains and dividend income. it is a broad range of investment securities and those making thmore than 200,000 a ye and married couples making more than 250,000. they are set to pay a .9 percent healthcare tax on their wages. together the two taxes are supposed to raise 318 billion over ten years. over those years more and more people will be taking them because the income level triggered the taxes doesn't rise with inflation. any one planning to sell a house make more than 500,000 and those gains will also be taxed. they will release a new form for taxpayers to fill out. 1230 returns related to all of the new taxes. all of the rules make it harder for individuals to comply with the regulations. believe it or not experts say they still leave
here i-94 to break them down for us is diane macedo from the fox business network. >> that's right. the irs is releasing the rules on how to implement the new taxes that will take effect in 2013 to help pay for the affordable care act. one of the main runs is 3.8 percent sir tax on the investment income. the first tax ever to be applied to capital gains and dividend income. it is a broad range of investment securities and those making thmore than 200,000 a ye and married couples making...
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thank you for joining us, "america live" begins right now. megyn: you take the car out, you have another hour before you get home. gregg jarrett tough on the teenage daughter. welcome, everybody. new pressure on president obama to take bold action on the controversial issue of global warming. welcome to "america live", i am megyn kelly. the nrdc has issued a groundbreaking proposal to cut pollution in america's power plants, saying that the epa can and should be used. rules for hundreds of existing power plants, bypassing congress altogether. this kind of proposal would obviously have huge economic impact that could spread across the industry that employ hundreds of thousands of americans. the coal industry. chris stirewalt is our digital politics editor and host of power play. this group has emitted this proposal and wants the epa to take control of these admissions in a way that president obama could not get through congress. he submitted his cap and trade proposal when the democrats controlled the house and senate. nancy pelosi got passed
thank you for joining us, "america live" begins right now. megyn: you take the car out, you have another hour before you get home. gregg jarrett tough on the teenage daughter. welcome, everybody. new pressure on president obama to take bold action on the controversial issue of global warming. welcome to "america live", i am megyn kelly. the nrdc has issued a groundbreaking proposal to cut pollution in america's power plants, saying that the epa can and should be used. rules...
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that just right now. >> yeah. that's what is unfortunately a missed opportunity because when they had the super committee, which was created after the last debt crisis that we had, they had this great opportunity to do something big, bold that would really equalize the tax code and as a way to have 4% growth that president bush was talk being earlier, how to establish that going forward. and yet, all they're doing really is just tinkering around the edges with not a definite sit reduction plan, but a plan that would raise rates on people that would pay for the government for about 8 1/2 days. it's really not enough and i think everybody is hungry for more. steve forbes had an idea before its time. unfortunately, president obama had a ton of political capital coming in initially. he could have done something big and bold like that and we could be on our way to a stronger economic recovery. >> steve: there is a lot of people who love the idea of a flat tax. but given the political dynamic in washington, d.c. where t
that just right now. >> yeah. that's what is unfortunately a missed opportunity because when they had the super committee, which was created after the last debt crisis that we had, they had this great opportunity to do something big, bold that would really equalize the tax code and as a way to have 4% growth that president bush was talk being earlier, how to establish that going forward. and yet, all they're doing really is just tinkering around the edges with not a definite sit reduction...